Minutes of the Annual Meeting of the Power - New York Power ...

April 24, 2007
RECOMMENDATION
“The Vice President – Procurement and Real Estate, the Vice President – Engineering and the Regional
Manager – Southeastern New York recommend that the Trustees authorize capital funding of $8.642 million for the
Richard M. Flynn Power Plant major outage and life extension project.
“The Executive Vice President and General Counsel, the Executive Vice President – Corporate Services
and Administration, the Executive Vice President and Chief Financial Officer, the Senior Vice president and Chief
Engineer – Power Generation, the Vice President – Controller and I concur in the recommendation.”
Mr. Welz presented the highlights of staff’s recommendations to the Trustees. In response to a question
from Chairman McCullough, President Carey said that, other than the rotor work, which would cost an
additional $1.5 million to $2 million, all of the work being carried out during the current unplanned outage had
been included in the 2007 budget. Mr. Welz added that the ongoing work would reduce the time required for the
planned October 2007 outage from seven weeks to five weeks. President Carey said that the work being done now
is aimed at getting the plant ready for the summer air-conditioning season. Mr. Bellis said that the net revenues
for this plant for 2007 are projected to be on the order of $8 million to $9 million. President Carey added that
this had been taken into consideration in the projections for the Authority’s end-of-year revenues as well. In
response to a question from Trustee Seymour, Mr. Welz said that the capacity of the Flynn plant, which is 13
years old, is 150 MW.
The following resolution, as submitted by the President and Chief Executive Officer, was unanimously
adopted.
RESOLVED, That capital expenditures are hereby approved in
accordance with the Authority’s Expenditure Authorization Procedures, as
recommended in the foregoing report of the President and Chief Executive
Officer, in the amounts and for the purposes listed below:
Total
Current Previously Current Authorized
Description Estimate Authorized Request Amount
Engineering
Design $105,000 $0 $105,000 $105,000
Procurement $5,720,000 $0 $5,720,000 $5,720,000
Construction $2,360,000 $0 $2,360,000 $2,360,000
Direct / Indirect $457,000 $0 $457,000 $457,000
Totals $8,642,000
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